Monday, July 25, 2011

MCX Bullions, base Metals, Crude Oil News Today

Bullions may open slightly on positive today. MCX Gold & Silver prices higher on today. MCX Gold can trade in wide range of Rs. 23,000-23,300 while MCX Silver can trade in range of Rs. 58,000-62,000 in near term.

All Base metals may trading for profit booking. MCX Copper may find support at Rs. 425 while MCX  Nickel may test the support of Rs. 1,040.

Crude oil may dip lower on profit booking. Crude oil can test the key support of Rs. 4,250-4,300 on domestic bourses.
NYMEX crude oil rose 2.7% last week marking its fourth weekly gain.
Crude oil speculators raised net long position for the third consecutive week. 
NYMEX natural gas fell 3.2% last week marking its second weekly decline in three weeks. 
Natural gas fell last week amid expectations that cooling demand may ebb over coming days.